Forthcoming articles


International Journal of Comparative Management


These articles have been peer-reviewed and accepted for publication in IJCM, but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.


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International Journal of Comparative Management (11 papers in press)


Regular Issues


  • The innovation process from an idea to a final product: A review of the literature   Order a copy of this article
    by Minisha Gupta 
    Abstract: Innovation has been previously explored by academic scholars and organizations to identify its determinants, characteristics and has often ended in producing incompatible results. This paper advocates the research on innovation by systematically developing a structure of innovation process. The study has been incorporated by the underlying theories, types, processes, antecedent and contextual factors, and sources of innovation process. The conceptual developments, generation and adoption processes, antecedents, and influences of innovation on organizations have been explained thoroughly in the study. Previous research work has been aligned with either one of two components of innovation process. However, this paper discusses each and every part of innovation process to combine them in a single framework and discusses their contribution in generating diversified outputs. By developing an understanding of innovation as a process, this paper aims to complement existing theories of innovation to further extend and advance theory and research on innovation process and outcome in organizations.
    Keywords: Innovation; managerial innovation; innovation process; organizational development; organizational strategy; innovation management.

  • How do top-management principles affect international acquisition processes? The case of Toyota   Order a copy of this article
    by Christina Oberg 
    Abstract: Most acquisition studies try to find all-embracing explanations as to how an acquisition and its integration are handled, rather than seeing the acquisitions as embedded in the management of the company. This paper links acquisitions to the management of the specific company through relating acquisitions to the management principles of the acquirer. It thereby sheds light on the specificity, rather than generalisability, of acquisitions. Management principles refer to the underlying ideas of the company, its values, and ways to pursue business. The paper asks: How could a companys management principles be understood in an acquisition process? A single, particular case study constructs the empirical part of the paper: Toyotas first cross-continental acquisition. The paper links the handling of the acquisition and integration to the well-known Toyota Way. The paper contributes to previous literature through discussing an acquisition process as embedded in the overall management of the company and points to the specificities rather than the commonalities in acquisition processes.
    Keywords: Acquisition; Case study; Cross-border; Management principles; Process; Toyota.

  • Outward foreign direct investment from Indian manufacturing firms - does transaction cost theory explains early choices?   Order a copy of this article
    by Vinish Kathuria 
    Abstract: The objective of the paper is to see whether transaction cost theory explains early choices of Indian multinationals, when outward foreign direct investment (OFDI) policy was still not liberal. This is done through three research questions: 1) what determines choosing between joint venture (JV) and wholly-owned subsidiary (WOS) for Indian manufacturing firms; 2) whether factors are different from the one for the developed country firms; 3) do they differ if investment is made in another developing country vis-à-vis a developed country setting. The analysis is carried out on a sample of 88 WOS and 162 JVs made by 142 firms. Results indicate that different transaction cost variables influenced entry choice in developed countries vis-a-vis developing countries.
    Keywords: foreign direct investment; internationalisation; diversification; joint ventures; wholly-owned subsidiary; WOS; emerging market multinationals; transaction cost theory; India.
    DOI: 10.1504/IJCM.2018.10014366
  • India's outward foreign direct investment: the home-country economic perspective   Order a copy of this article
    by Munmi Saikia, Saundarjya Borbora 
    Abstract: The paper examines the impact of home-country macroeconomic factors such as gross domestic product (GDP), money supply and inflation on the growth of outward foreign direct investment (OFDI) from India. Vector error correction model is employed to explore the long-run dynamics and short-run causality between the macroeconomic factors and OFDI for the period 1980-2014. The study finds that GDP has positive and significant impact on OFDI whereas money supply and inflation have significant but negative impact on it in the long-run. However, in the short-run, no causality is witnessed between OFDI and macroeconomic factors specified in the model.
    Keywords: outward foreign direct investment; OFDI; macroeconomic factor; vector error correction model; VECM; India.
    DOI: 10.1504/IJCM.2018.10014423
  • Global consolidation of industries and business failures: insights from brick-and-mortar and online outlets   Order a copy of this article
    by Joseph Amankwah-Amoah 
    Abstract: Although online platforms are increasingly seen as a linchpin for firms competing in the 21st century, our understanding of competition between the traditional brick-and-mortar and online outlets, and how this can lead to different types of business failures, remains limited. In the light of the disjointed nature of the current streams of research, we propose an integrated framework that classifies the differential effects of online and brick-and-mortar competition. Based on a review of the literature, the study identified four competitive dynamics, i.e., bricks vs. bricks, clicks vs. bricks, clicks vs. clicks and brick-and-click, and explores how they can lead to different kinds of business. It is contended that the failure rate is likely to rise for small firms that adopt a sole brick-and-mortar strategy largely due to the risk of becoming 'research shops'. The study contributes to comparative strategic management literature by shedding light on the evolution of online and offline management strategies and practices across the globe. In this direction, the study provides insights on some aspects both universal and country-specific features in the evolution of online and offline. The analysis highlights the importance of championing successful blending of both online and offline platforms.
    Keywords: online shopping; bricks-and-mortar shops; technology; internet; business failure.
    DOI: 10.1504/IJCM.2018.10014359
  • The structure and behaviour of small African banks: market power and bank diversification strategy in Ghana   Order a copy of this article
    by Mohammed Amidu, Charles Adjasi 
    Abstract: This paper analyses the effect of market structure on diversification strategies of the banking industry of Ghana - a growing medium-sized Sub Saharan African country. We draw on a comprehensive panel dataset of 21 Ghanaian banks over a ten-year period. Based on HHI measures of diversification, there is evidence of a gradual shift away from concentration in interest income streams to non-interest income generating activities. The trend in the Lerner index of market power shows that there is very little competition amongst Ghanaian banks. We employ standard panel data econometrics to test if market power influences bank diversification and find that diversification within non-interest income activities increase as banks gain market power.
    Keywords: market power; bank diversification; Ghana; Sub Saharan Africa; emerging markets; banking sector; institutional development.
    DOI: 10.1504/IJCM.2018.10014369

Special Issue on: Connecting the Dots between Management and Governance A Comparative Corporate Governance Mechanism

  • Connectivity and Closeness Among International Financial Institutions: A Network Theory Perspective   Order a copy of this article
    by Thierry Warin, William Sanger 
    Abstract: This article focuses on connectivity and closeness between financial institutions. Financial institutions are a subset of multinational corporations and play an important role in our modern economies. By studying connectivity and closeness, this article proposes a Network Theory approach to the notion of systemic risk. Using Network Theory, we propose to look at potential networks between financial institutions through their boards of directors. Measures of centrality (degree, closeness, betweenness, eigenvalue) and force-directed networks are provided for each country. We built a large sample (43,399 individuals; 2,209 institutions) across 52 countries using Bureau van Dijks database. We find corporate interlocks showing - to some degree - the level of concentration within the financial system. The main contribution of this article is to show some evidence of small-world properties of the international financial system; the ramifications of this question could be critical, notably in terms of systemic risk.
    Keywords: corporate governance; board of directors; network theory; network graphs; board interlocks.

  • Corporate Governance relationship with Strategic Management: A Longitudinal Case Analysis of RELX Group (Elsevier)   Order a copy of this article
    by Manchuna Shanmuganthan 
    Abstract: This study reviews the relationship between corporate governance and strategic management and analyzes the effectiveness of corporate governance and strategic management while investigating a company performance. As their combined impact on organization cause them to closely relate to each other in a companys evolution. As it's obvious to recognize, based on circumstances and time periods within a company, there are traceable particulars, which provide evidence of the relative dominance of corporate governance over strategic management, rather than the leadership management over corporate governance. A considerable amount of research on the relationship between corporate governance and strategic management focuses on the effects of corporate governance on strategic management. At the same time, corporate governance is based on the theory of an organization and the expenses it entails, while attempting to clarify the relationship between several other factors which determine the management of the company operations. As this study focuses on the corporate governance influences on strategic management decisions published as narrative disclosures in the annual reports. As such discussions based on the effects of management strategic decisions making on corporate governance in the context of publicly traded enterprise such as RELX Group. The relevance of corporate governance has increased especially after the introduction of the concept along with the globalization, competition and managing shareholders expectations. The paper provides enhances, the collective relations between corporate governance and strategic management while assuring its role in new perspective to pave the way for new academic researches discussing these relations.
    Keywords: Corporate Governance; Strategic Management; Top level Management; Publishing industry; RELX Group; Elsevier; Longitudinal case analysis.

  • Corporate governance mechanisms and income smoothing: the case of European Union Banks   Order a copy of this article
    by KONSTANTINOS VASILAKOPOULOS, Christos Tzovas, Apostolos Ballas 
    Abstract: This study investigates whether corporate governance mechanisms have an impact upon EU Banks accounting policy decisions. We investigate if certain banks corporate governance characteristics are related with the level of Loan Loss Provisions (LLPs) reported by a sample of EU Banks. We examined the accounting policy decisions of a sample of 98 banks from 23 EU countries regarding the level of LLPs. Initially, we investigate whether banks adjust LLPs in order to smooth their reported earnings. Subsequently, we investigate the association between two corporate governance characteristics of the sample banks, i.e. the structure of the board of directors (one-tier vs. two-tier system) and the disclosure of CEOs remuneration, with their accounting policy decisions regarding LLPs. We found that banks with a two-tier board system are more likely, comparing to the one-tier system banks, to adjust the level of LLPs. Furthermore, we found that banks that do not disclose CEOs remuneration are more likely to report higher Loan Loss Provisions.
    Keywords: banks; provisions; corporate governance; board of directors; remuneration.

  • The Impact of Corporate Governance on Earnings Management in Emerging Economies: The Greek Evidence   Order a copy of this article
    by Vassilis Smaraidos, Georgios Thanasas, Anastasia Filiou 
    Abstract: This study tries to investigate the impact of Corporate Governance mechanisms effects on the decision that may manipulate earnings in Greek listed firms. To do so, the board of directors and the audit committee were taken into account, as long as the total accruals of 46 Greek listed firms for the years 2011-2015. For the analysis, three research hypotheses have been made to investigate where the independent members prevent from earnings management tactics and if financial healthy firms try these tactics. The main finding of the study is that firms with a strong and independent Board of Directors combined with an active Audit Committee, as long as with financial soundness and the presence of a large audit firm are deterred from practices related earnings management.
    Keywords: Corporate Governance; Earnings management; Discretionary accruals; accrual method; Emerging Economies; Greece.

  • Is Eurasian Economic Union Governance Effective? Implications for the Strategic Entrepreneurship and Innovation   Order a copy of this article
    by Stavros Apostolakis, Kostas Margaritou 
    Abstract: In this article, we postulate the strategic entrepreneurial and innovative nature of the Eurasian Economic Union (EAEU) and assess the effectiveness of the Eurasian Governance on its institutional dimension as well as on policies for Entrepreneurship and Innovation. Given the fact that Entrepreneurship and Innovation formulate an interdisciplinary field and taking into consideration the founding objectives of the EAEU, to be a ground for the economic integration and growth of its member-states, a new case study is offered concerning the EAEUs strategic importance and interpretation. Our task is to illustrate the interaction between the strategic expediency of the Eurasian integration venture and the theories of Entrepreneurship and Innovation as well as to analyse the management of the EAEU decision-making and executive bodies on the adoption of harmonized legislation and the implication of strategic policies that favour Entrepreneurship and Innovation.
    Keywords: EAEU’s strategic nature; Entrepreneurship and Innovation theories; Eurasian governance; institutional management; EAEU’s decision-making; EAEU’s policies.